P1 Competitive economy
1.3. More exports by the Central Baltic companies to new markets
01.09.2015 - 30.09.2018
ENDED. The project CB2East aims at strengthening the Central Baltic Region’s economic competitiveness by creating commercially targeted open innovation platforms between Latvia and Finland. The focus areas are in sustainable eco-efficiency and water expertise solution needs in North-West Russia and Central Asia. Both regions have shown notable market potential for the Finnish and Latvian SMEs but the lack of critical mass and certain capabilities have been an obstacle for successful commercial entries to the markets.
CB2East catalyses transnational innovation collaboration for clusters based on challenge-driven and smart specialization approaches. New element of the approach is the use of an inclusive model of collaboration, co-creative innovation processes including open innovation test-beds and new communication tools. The project creates combinations of the clusters complementary competences with a potential to develop specialized solutions to the target market needs. These strategic platforms support transnational clusters’ intermediaries on their operational projects helping companies in their business development and fruitful commercialization of joint ideas internationally.
The project will result in four cluster co-operations exporting to new markets and a continuous and commercially successful transnational cooperation in between two countries as well as a model that can be spread to the neighbouring CB countries in the future.
Finnish Water Forum/ Suomen vesifoorumi ry
Partner budget: 355.230 EUR
Amount of ERDF funding: 266.423 EUR ERDF
CB2East – new business opportunities for Finnish and Latvian companies
The project CB2East - Central Baltic Cleantech Clusters expanding to East of EU markets - generated Latvian and Finnish meta-cluster platforms, where complementary competences have leveraged partner’s capacities to enter new market and support SMEs internationalization strategies. More specifically, Baltic Cleantech Alliance provided functional collaboration aimed to increase export in Central-Asia; whereas in North-West Russia were developed collaboration models with local clusters to support the same targets. Baltic Cleantech Alliance became valued in the target markets and enhanced status of participating SMEs. Baltic Cleantech Alliance was largely recognized in target markets especially due to events that gathered large and high-level audiences.
In overall, meta-cluster activities
- enhanced information on target markets situation and business opportunities
- increased competences and capacities to enter new markets for participants, including better understanding of financial instruments, cultural awareness, support for strategy development
- providing platform and tools for transnational cooperation, communication, match making and knowledge sharing
- joint projects and other transnational cooperation formats of meta-cluster and its companies
- new business value chains and commercially viable projects
- increased involvement of companies into meta-cluster activities.
Moreover, the project innovated new market entry strategies and business models, including local representation offices, consortia approach etc. The project has improved capacities on national clusters to work in the transnational environment and adapt to the emerging challenges; developed their cooperation skills and capacity to innovate new collaboration models. Around 10 cooperation agreements and MoUs were signed during the project. The participating companies from both countries achieved real business deals and at least 5 companies have succeeded to have sales on target markets.
In more deteail, during the project it was identified well over 100 business leads from which 66 were relevant to companies. This led to 40 new business value chains including projects, pilots or submitted offers or tenders. The project provided deep market knowledge of Central Asia and North-West Russia and created clear vision how to integrate our interests in the target markets. As such, Baltic Cleantech Alliance elaborated clear service pallet to companies towards the new target market.
During the project lifecycle (2015-2018) several Finnish and Latvian companies agreed on cooperation and successfully participated in tenders, as well as cooperated with Russian, Central Asian and other European companies and organizations. The project developed collaboration patterns with local clusters and market entry integrators, for example in Northwest Russia. Moreover, FIN-LV collaboration improved significantly due to the project.
More information about the project and Baltic Cleantech Alliance from here.
- 5 new business deals and sales to the target markets
- 66 relevant business leads
- 40 new business value chain
- 290 enterprises receiving nonfinancial support
- 45 enterprises receiving support
- 45 enterprises supported to introduce new-to-the-market products